(Editor’s Note: Financial services firms that were sitting on the fence about cloud computing are changing their minds as they look to the post-pandemic world. So says Julian Trostinsky, vice president, strategy and solutions engineering at Duco Technology, which offers cloud-based, data and post-trade reconciliation systems. Trostinsky has more than two decades of experience helping… Read More >>
SWIFT Makes Sibos Virtual for 2021
Sibos to Be In-Person for 2022 The international financial services operations conference known as Sibos, produced by the SWIFT consortium, and slated for October of this year will be a virtual event, officials have confirmed. The conference in 2022 has been slated to be an in-person event. “The Covid-19 pandemic continues to impact the way… Read More >>
Broadridge Acquires Itiviti for $2.5 Billion
Post-trade provider Broadridge Financial Solutions will be able to offer front-to-back-office systems and networking via its acquisition of vendor Itiviti Holding AB for approximately $2.5 billion from Nordic Capital. The all-cash transaction is valued at €2.143 billion and will add trading and connectivity technology offerings to the list of systems that Broadridge offers, officials say…. Read More >>
Coinbase Penalized $6.5M for Reporting & Trading Woes
Digital asset exchange operator Coinbase will pay a civil penalty of $6.5 million to settle a case with the CFTC involving wash trading by a former employee and inaccurate reporting of digital asset transaction volumes even though the CFTC does not regulate Coinbase. While it doesn’t oversee cryptocurrency trading venues, the commodities regulator stepped in… Read More >>
Citi CEO Launches ‘Zoom-Free Fridays’
Citi Tries to Combat ‘Zoom Fatigue’ In a move getting a lot of attention, Jane Fraser, CEO of Citigroup, reached out to bank employees to address pandemic fatigue and instituted several major changes such as “Zoom-Free Fridays.” In a memo and blog posting, “Latest Update on the Future of Work at Citi,” dated March 24,… Read More >>
BNY Mellon Helps Crypto Custody Startup Raise $133M
Fireblocks Raises a Total of $179 Million Crypto infrastructure provider Fireblocks has raised $133 million in Series C funding with help from the Bank of New York Mellon and SVB Capital, the investment platform of SVB Financial Group, via an effort led by Coatue, Ribbit Capital, and Stripes Group, officials say. With this round of… Read More >>
Electra Expands Global Operations & Adds Staff
Electra Information Systems, a provider of reconciliation and other post-trade services, is adding data centers and staff to improve its global infrastructure for operations processing that supports a growing number of clients across the United Kingdom (U.K.), Europe, and the Asia-Pacific regions, officials tell FTF News. In particular, Electra has added data centers in Sydney,… Read More >>
Northern Trust Launches Holistic Consulting for Op Risk
When the pandemic compelled Ops staffs to work remotely, it’s likely that many firms got new perspectives on the operational risks plaguing their front, middle, and back offices. Custodian and service provider Northern Trust is hoping that its new take on the matter — its bespoke Operational Risk Consulting service — will help firms bolster… Read More >>
NYDFS Issues Cyber Alert About Microsoft Exchange
Hackers Are Exploiting Microsoft Exchange Weaknesses Following media reports of cybersecurity vulnerabilities via the popular Microsoft Exchange Server, the New York State Department of Financial Services (NYDFS) has issued a letter to the financial services industry that “urges all regulated entities with vulnerable Microsoft Exchange services to act immediately.” The letter from the Cybersecurity… Read More >>
Gensler’s SEC Chair Nomination Advances Amid GOP Pushback
Gary Gensler, President Joe Biden’s nominee for SEC chairman, last week won the approval of the U.S. Senate Banking Committee by a vote of 14 in favor to 10 against, signaling some resistance among Republicans as his nomination moves to a full vote before the U.S. Senate. If approved by the Senate, Gensler and the… Read More >>
